Payroc Compliance Corner
Payroc has established this site as a repository for information as it relates to Visa surcharge rules. This site provides quick access to merchant facing communications published by Payroc to keep our sales partners and internal staff informed. Click on the links below to find what you're looking for.
Visa Bulletin Summary
Frequently Asked Questions
Is Payroc planning to proactively reach out to high processing MIDs or Agents to discuss opportunities?
Will we be lowering RP monthly fees for existing merchants that have a fee that is higher than the advertised $25 fee in the new model.
What is Payroc is going to do to offset this difference now that the surcharge amount cannot exceed 3%?
The variance between your contract pricing/agreement and the newly mandated cap on % to be passed to a cardholder will be billed to you at end of Month on all credit volume.
i.e. For example, if you are priced at 3.85% for all Credit Card transactions today and you are passing the full amount to the cardholder. As of May 01, 2023, you will only be able to pass along 3% of the 3.85% total. Your End of Month bill will include the remaining .85% for all credit card transactional volume.
When the merchants will be notified of this change?
Notifications will be distributed via email to our merchants beginning March 20th, 2023. We will also send the communication via snail mail, and push notifications to our merchants in Payroc Insights. All communications will be internally announced to W-2 as well as 1099 before they go out to merchants.